If a C Corporation Incurred a Net Operating Loss in 2017

question 72

True/False

If a C corporation incurred a net operating loss in 2017, it could carry the loss back two years and forward 20 years to offset income in those years. However, it may offset only 80 percent of the taxable income before the NOL deduction in those years.

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Definitions:

Purchasing Price

The amount of money required to buy a certain quantity of goods or services at a given time.

Incentive

A factor, monetary or otherwise, that motivates individuals or entities to act in a certain way.

Price Index

A statistical measure that tracks changes in the price level of a basket of consumer goods and services over a period of time.

Healthcare Services

The wide range of services provided by medical professionals, hospitals, and clinics, aimed at maintaining or improving people's health.